"to endow a fellowship in Balliol or Kings"
Balliol College, Oxford
Creative Commons Attribution Share AlikeBalliol College, Oxford - Credit: Andrew Telfer, Wikimedia Commons

Balliol is a college of the University of Oxford, founded in 1263.

King's College, Cambridge
GNU Free Documentation LicenseKing's College, Cambridge - Credit: Oxyman, Wikimedia Commons

Its alumni include three British prime ministers: Herbert Asquith; Harold Macmillan; and Edward Heath.

Kings is a college of the University of Cambridge, founded in 1441. Its alumni include Rupert Brooke, E.M Forster and Salman Rushdie

To 'endow a fellowship' is to provide the financial wherewithal for a graduate student to pursue post-graduate studies and obtain a doctorate.